Dow futures falling. Interesting lets see how our market closes. China closed down which is very interesting. Dow closed high on low volumes yesterday infact very low volumes. In our market still there is considerable liquidity issues. However, the thin volumes generally take market higher and this is what we are witnessing whether there i lack of participation from retail investors or lack of participation from HNIs and FIIs remains to be seen.
Nifty: Daily Price Analysis
- Thread starter SwingKing
- Start date
- Tags nifty daily analysis
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Definitely. I am waiting for that elliot wave for long time. I am not getting the counting properly.
This three time frame thing, i was missing for long time. You made me remember it once again. Simmilarly if we get the entry right like by cross checking with weekly daily and with hourly, we can get the exit also. Depending on the target achieving and timeframe we select to wait.
I was just taking one time frame on nifty weekly to enter and exit. And that was the confusion. thanks for clearing it.
This three time frame thing, i was missing for long time. You made me remember it once again. Simmilarly if we get the entry right like by cross checking with weekly daily and with hourly, we can get the exit also. Depending on the target achieving and timeframe we select to wait.
I was just taking one time frame on nifty weekly to enter and exit. And that was the confusion. thanks for clearing it.
Hi trader trends,
actually i use cci for entering and exit the trade and that too on daily time frame. Definition of trend on CCI is totally different then what one might consider and method suggests not to change the time frame. But now as raunak sir told to filter higher with the lower time frame, thats really gonna help for perfect entry. I think i knew it some where(linkon sir told me once) (and also once read in raunak sir's thread, where he stated about crossing of stochastic on daily and weekly at same place - it was a system) but was just missing it cause of manual instructions. I know we have to tweak it our way. But i was just working the robot way with it.
About making mind for an entry, i take entry based upon the pivots. if the price is in my desired range i buy it. but i think i will have to tweak it a litle.
actually i use cci for entering and exit the trade and that too on daily time frame. Definition of trend on CCI is totally different then what one might consider and method suggests not to change the time frame. But now as raunak sir told to filter higher with the lower time frame, thats really gonna help for perfect entry. I think i knew it some where(linkon sir told me once) (and also once read in raunak sir's thread, where he stated about crossing of stochastic on daily and weekly at same place - it was a system) but was just missing it cause of manual instructions. I know we have to tweak it our way. But i was just working the robot way with it.
About making mind for an entry, i take entry based upon the pivots. if the price is in my desired range i buy it. but i think i will have to tweak it a litle.
Last edited:
Rajputz, I agree with TT that ur entry-exit triggers should come from the TF that u are trading.. but while taking trading decision, you should use higher TF. This will help u in assessing reward/risk ratio.
Like current situation.. if Weekly is showing resistance at 5170, and your daily TF , give u buy signal at 5120, your reward is most probably capped at resistance of higher TF..
But if you get a short signal on daily chart, when price is near weekly resistance zone, your reward/risk ratio and probability of success is much higher.
I think, that's is where the use of higher TF in trade selection, becomes important. It helps u picking up those high probability, high reward, low risk trades. If your system is designed smartly, then it should be able to rate each trade signal otherwise, computer systems are dumb. and they can't see what human eyes can see. So either build this extra intelligence in your system, or use your own discretion.
Happy Trading
Like current situation.. if Weekly is showing resistance at 5170, and your daily TF , give u buy signal at 5120, your reward is most probably capped at resistance of higher TF..
But if you get a short signal on daily chart, when price is near weekly resistance zone, your reward/risk ratio and probability of success is much higher.
I think, that's is where the use of higher TF in trade selection, becomes important. It helps u picking up those high probability, high reward, low risk trades. If your system is designed smartly, then it should be able to rate each trade signal otherwise, computer systems are dumb. and they can't see what human eyes can see. So either build this extra intelligence in your system, or use your own discretion.
Happy Trading
dear,
check this and comment on this....
http://www.equitymaster.com/5MinWrapup/detail.asp?date=06/03/2010&story=6
tnx,
check this and comment on this....
http://www.equitymaster.com/5MinWrapup/detail.asp?date=06/03/2010&story=6
tnx,
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